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  • 10 Dec 2018 10:32 AM | Anonymous member (Administrator)

    KATOWICE, 10 December - The International Emissions Trading Association and the Climate Markets and Investment Association are delighted to present the Carbon Pricing Champion Award, sponsored by ALLCOT Group and CRX, to the Republic of Colombia.

    Our award recognises the leadership of the Colombian government in the promotion of carbon pricing and offsetting as instruments to address climate change.

    “IETA is delighted to recognise yet another country using market mechanisms to advance the goals of the Paris Agreement,” said Dirk Forrister, CEO of IETA. “Since the Agreement was signed, we are seeing significant growth in emissions markets.”

    “This award recognises how government policy is helping to drive technological advances, by incentivising innovation and investment in low-cost abatement projects,” said Margaret-Ann Splawn, Executive Director of CMIA. “This is what carbon pricing using market mechanisms is all about.”

    (L to R): Dirk Forrister, CEO of IETA; Sebastian Carranza, Specialist, Ministry of Environment and Sustainable Development of Colombia;  Ricardo Jose Lozano, Minister of Environment and Sustainable Development of Colombia; Margaret-Ann Splawn, Executive Director of CMIA; Alexis L. Leroy, CEO and Founder of ALLCOT Group; Tommi Neuvonen, Managing Director, ALLCOT Group.

    The government of Colombia, led by the Ministry of Environment, has made a significant effort to promote robust accounting, environmental integrity and transparency to avoid double counting. 

    This has increased confidence in market-based instruments as one of the options to support mitigation action for achieving Nationally-Determined Contributions.

    IETA and CMIA’s award is also intended to highlight Colombia’s work on a full regulatory package that includes a domestic offsetting program for the country’s carbon tax (Decree 926/2017), and a regulation on monitoring, reporting and verification (Resolution 1447/2018) which is based on registry, accounting and additionality aspects.

    IETA and CMIA would like to thank sponsors ALLCOT Group and Climate Resources Exchange for supporting the Carbon Pricing Champion Awards.


    CMIA and IETA launched the Carbon Pricing Champion Awards at the Paris COP in 2015. Over the last three years this award has recognised California, Ontario, Quebec, New Zealand and Chile for their progress on market-based instruments to address climate change.


    IETA is the voice of business on carbon markets around the world. Established in 1999, IETA's members include global leaders in the electricity, oil/gas, cement, aluminium, chemical, mining, technology, standards, verification, broking, trading, legal, finance, accounting and consulting industries.


    CMIA is a non profit trade association with the mission to stimulate a shift in the direction and scale of private and public financial flows into investments which are consistent with the objectives of the Paris Agreement. 


    ALLCOT develops, manages and trades in all sectors related with climate change mitigation. The company is a leader in greenhouse gas (GHG) emissions, management tools and strategies for businesses of all sizes.


    CRX offers services in engineering consulting & carbon consulting. These include energy efficiency projects, carbon profiling, carbon offsets, sustainability reporting, renewables project origination and corporate social strategising.

  • 06 Dec 2018 3:30 PM | Anonymous

    GENEVA, 6 December - Next week the UK Parliament will vote on the draft Withdrawal Agreement and the political declaration on the country’s future relationship with the European Union.

    This decision has massive implications for British and European climate policy, since a rejection of the draft agreement could lead to the UK effectively leaving the EU ETS at the end of this year.

    Such a move could plunge the European carbon market into uncertainty and lead to a significant carbon price decrease, as UK installations liquidate their holdings of un-needed EU Allowances.

    IETA and our members strongly believe that the UK should either continue to participate in the EU ETS as it currently does, or create its own, linkable domestic UK carbon market. IETA notes that several non-EU countries currently participate in the EU ETS.

    IETA believes cap-and-trade is the best method of implementing a carbon price because it meets two key requirements for any government policy: it is capable of delivering its environmental objective and it is highly cost-efficient.

    "Linking a UK carbon market to the EU’s system would boost liquidity and widen the scope for emissions reductions available to UK industry," said Simon Henry, IETA's EU Policy Director. "A fully-linked market would also ensure a common price for carbon, thereby ensuring a level playing field for industry in a competitive environment."

    IETA and its members believe the UK’s 2019 EU Allowances auctions and free allocation to industry should be postponed if there is is still uncertainty at the start of 2019 over the UK's participation in the market. 

    Under current EU regulations, if there is no deal on the terms of the UK’s withdrawal before the end of this year, any allowances issued by the UK in 2019 will be marked so that they can subsequently be invalidated.

    "The solution is to postpone UK auctions and free allocation, not to mark EUAs," Simon Henry said. "Marking UK allowances would merely create a two-tiered market, as companies in other EU member states would avoid buying UK-issued EUAs." 

    IETA members would be very concerned by such a development, as this would create price distortions. UK-issued allowances would likely trade at a significant discount on the secondary market, and there may be a high risk of UK auctions failing as stakeholders choose not to participate in them.

    IETA's position paper on Brexit and the EU ETS can be found here

  • 05 Dec 2018 3:13 PM | Anonymous member (Administrator)

    KATOWICE, Poland (4 December 2018) – The International Emissions Trading Association, Environmental Defense Fund and a group of 40 companies, business groups and non-governmental organisations today issued the Katowice Declaration on Sound Carbon Accounting.

    Non-state actors are closely following the United Nations Framework Convention on Climate Change (UNFCCC) process as Parties to the Paris Agreement prepare to finalize the guidance for its implementation, and developments under the International Civil Aviation Organization’s (ICAO) on the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) are also underway.

    The declaration promotes sound carbon accounting, and urges countries to adopt robust rules to avoid double counting of emissions reductions under the Paris Agreement.

    Avoiding the double counting of mitigation efforts in these programs is critical:

    1. For environmental integrity: Without strong rules to avoid double counting, including with CORSIA, we risk undermining the goals of the UNFCCC, the Paris Agreement, and CORSIA.
    2. For business certainty: To protect against financial and reputational risk, companies investing in mitigation require certainty that purchased emissions reductions will not be used twice.
    3. For public confidence: If double-counting is allowed among UNFCCC Parties, or between them and CORSIA, that could undermine confidence among governments, businesses, civil society, and other stakeholders that international institutions have the ability to guide the necessary climate action.

    Through the Declaration, companies, civil society and other non-state actors make clear our desire that all Parties agree strong rules at COP24 in Katowice, Poland that ensure all forms of double counting are avoided.

    “All markets benefit from strong accounting to build investor confidence, but in the world of the Paris Agreement the delivery of the environmental objective absolutely depends on it,” said Dirk Forrister, IETA’s CEO.

    “The Paris rules on carbon accounting should support international market linkages that lower costs, spur technology deployment and preserve competitiveness. These are all imperatives for business to scale-up climate action,” Forrister added.

    “The wide range of companies and groups united in calling for clear accounting and transparency rules sends a strong message to the Parties meeting in Katowice: the Paris Agreement rulebook must include safeguards to prevent double counting,” said Nathaniel Keohane, Senior Vice President for Climate at Environmental Defense Fund.

    ”Carbon markets offer enormous promise to enable deep, cost-effective cuts in climate pollution at a global scale – but only if basic accounting rules are in place, like a prohibition on counting the same ton of emissions reductions twice,” Keohane added.

    A copy of the Declaration is available here.

  • 19 Nov 2018 5:17 PM | Anonymous member (Administrator)

    LONDON, 19 November - IETA today publishes its priorities for the UNFCCC COP24 session which takes place in Katowice, Poland from December 2-14. This year’s meeting concludes a two-year process under which more than 200 countries have been developing high-level guidance for the implementation of the Paris Agreement.

    COP24 is expected to complete work on the so-called “Paris Rulebook”, a set of rules and guidelines that will lay out the framework for international climate action. The Rulebook will include decisions on matters including finance, adaptation, loss and damage and, under article 6, the development of market mechanisms to help reduce global emissions.

    “Negotiators need to finalise guidance on a broad range of issues, so that nations and businesses can get to work on mobilising the finance to enable the significant emissions cuts that will help avoid catastrophic climate change,” said Dirk Forrister, IETA’s CEO.

    IETA will be encouraging the COP to agree key elements of Article 6 as rapidly as possible, so that Parties can make early decisions on how to meet the goals set out in their Nationally Determined Contributions (NDCs).

    A clear set of decisions on issues including transparency, accounting (both in terms of finance and emissions reductions) and market mechanisms are crucial if governments are to start work, and private investment is to be leveraged in time, to meet the goals of the Paris Agreement.

    “These decisions are essential to give structure and coherence to the global climate effort,” said Forrister. “Any delay reduces the chances of keeping temperature increases to less than 2 degrees Celsius.”

    It’s clear that not all of the “Paris Rulebook” can be approved in Katowice: there remains much technical work to do. But a set of clear, high-level decisions can give a strong indication of the “direction of travel” and can offer countries the opportunity to make early choices in how to develop their NDCs and ramp up ambition.

    “Clarity on Article 6 is particularly important as this will be a key channel for private sector action,” said Stefano De Clara, IETA’s International Policy Director. “Investors need assurance that there will be strong safeguards in place to ensure robust accounting and a transparent mechanism for countries to generate carbon reductions that can be transferred internationally.”

    IETA has published its priorities for COP24 here, and also a detailed set of recommendations for strong decisions on Article 6, which governs “cooperative approaches” (Article 6.2: emissions trading); and the “emissions mitigation mechanism” (Article 6.4: emission offsets) which includes the transition of the Clean Development Mechanism and Joint Implementation into the new mechanism.

    (For more information on COP24 and IETA’s participation at the event, visit our COP24 webpage at www.ieta.org/cop24.)

  • 08 Oct 2018 2:18 PM | Anonymous member (Administrator)

    GENEVA, 8 October - The Intergovernmental Panel on Climate Change’s Special Report on Global Warming of 1.5 degrees Celsius makes an important contribution to understanding the challenges – and benefits – of the 1.5 degree goal. It is clear to the business community that the international community has a long way to go in pursuing this goal.

    The report, published today, is a critical input for negotiators as they prepare for the COP24 meeting in Katowice in December. The talks will mark the culmination of the Talanoa Dialogue process, set up under the Paris Agreement to review progress towards its goals with an aim of encouraging national contributions of greater ambition.

    The contributors to the report conclude that human activities are estimated to have caused around 1 degree of global warming above pre-industrial levels already, and that warming “is expected to reach 1.5 degrees Celsius between 2030 and 2052 if it continues at the present rate.”

    The IPCC makes explicit references to carbon pricing as “a necessary lubricant” to help balance out the impact of higher energy prices in a carbon-constrained world.

    "In a frictionless world, a unique world carbon price could minimise the social costs of the low carbon transition by equating the marginal costs of abatement across all sources of emissions," the report states.

    “As a business group, IETA stands ready to do our part in advancing a vision of greater ambition enabled by effective carbon markets,” said Dirk Forrister, CEO of IETA. “The World Bank’s State and Trends of Carbon Markets report (2017) found that cooperation can cut costs of achieving Paris goals by 30% by 2030 and 50% by 2050.”

    The IPCC report also highlights the important role that non-state actors can perform in achieving the Paris goals. Incentives need to be made available to encourage the private sector to take voluntary actions and go beyond compliance with national goals.

    “In IETA’s participation in Talanoa Dialogues with the business community around the world (New York, San Francisco, Singapore, Montevideo, Nairobi) in the past few months, we heard a clear, consistent and convincing call for wider use of market mechanisms, which could help make more action economically viable,” he continued. “But we also heard that the Rulebook matters – a lot.”

    “That’s why the work on the Article 6 element of the Paris Rulebook is vital this year, so that more companies can invest with confidence in climate action.”

  • 28 Sep 2018 9:57 AM | Anonymous member (Administrator)

    IETA is delighted to announce that Katie Sullivan, our Managing Director, has been named as a member of Canada’s “Clean16” for 2019.

    Canada’s Clean16 Awards are announced annually by Delta Management Group and the Clean50 organisation to recognise those individuals or small teams, from 16 different categories, who have done the most to advance the cause of sustainability and clean capitalism in Canada over the past 2 years.”

    “Katie is THE subject matter expert on all things carbon pricing in the Americas and the Pacific Rim, leading the charge to let the market determine the best ways to innovate to eliminate carbon pollution,” said Gavin Pitchford, CEO of Delta Management Group.

    “On behalf of IETA’s 150+ corporate members, Katie leads efforts to identify market solutions that address the climate challenge, building cross-border and cross-sector partnerships worldwide,” Pitchford said.

    “Katie has helped shape effective job, investment and business-friendly climate plans, policies and financial structures, leading to billions of dollars in investment in the emerging low-carbon economy,” he added.

    “I’m very honoured to receive this award,” said Katie Sullivan. “It reflects the hard work of a lot of people in pushing for efficient and effective market mechanisms.”

    “Being recognised in this way is a great incentive to continue our important work.”

    “We are extremely proud that the Clean50 and Delta Management Group has honoured Katie with a Clean16 award,” said Dirk Forrister, IETA’s CEO. “Our community knows her hard work, dedication and enthusiasm for market solutions to climate change, so she absolutely deserves this recognition.”

    You can read more about the Clean50 summit and the Clean50 awards at www.clean50.com.

    About Delta Management Group / Canada’s Clean50:

    Leading sustainability and clean tech search firm Delta Management Group in 2011 founded, and remains the steward of, the Canada’s Clean50 awards, created to annually identify, recognise and connect 50 sustainability leaders from every sector of Canadian endeavour, in order to facilitate understanding, collaboration and innovation in the fight to keep climate change impacts below 1.5 degrees Celsius. Ancillary awards also recognise 10 Emerging Leaders and the Top 20 Sustainability Projects of the year.

  • 13 Sep 2018 10:42 PM | Anonymous member (Administrator)

    SAN FRANCISCO, 13 September -  IETA welcomes the agreement signed today between California and the European Union to strengthen bilateral cooperation on carbon markets.

    “It’s encouraging to see the two leading carbon markets taking a serious look at aligning their systems,” said Dirk Forrister, CEO of IETA.

    “Their Initiative could inspire others to develop similarly aligned systems, taking advantage of the Florence Process.”

    European Climate Action and Energy Commissioner Miguel Arias Cañete and California Governor Jerry Brown today signed a bilateral agreement to boost cooperation on the development of carbon markets.

    California and the EU will step up the frequency of exchanges on, amongst other issues, how carbon markets can send near- and long-term signals for investment, address concerns over economic competitiveness and maximise the public benefits of using market revenues.

    The partners will issue a report on the outcomes of these exchanges in a year.

  • 12 Sep 2018 6:16 AM | Anonymous member (Administrator)

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    SAN FRANCISCO, 11 September – California Governor Jerry Brown kicked off a high-level event focused on carbon pricing today, telling the audience: “Carbon pricing is simple and elegant. Just do it!”

    The one-day event, organised by the European Commission, State of California, Government of Canada, IETA, the World Bank and the Carbon Pricing Leadership Coalition, highlighted how carbon pricing can deliver climate ambition. It comes as world leaders gather in San Francisco for the Global Climate Action Summit, intended to drive ambition and accelerate action to delivering on the Paris Agreement’s goals.

    “Climate change does not wait for anyone,” Brown told delegates. He noted that his state’s cap-and-trade system has generated around $8 billion in revenues for the state, and that the market is “turning profit into a climate-friendly process”.

    Brown’s remarks came on the heels of him signing legislation for the state to use only carbon-free electricity from 2045, followed by an executive order for the entire state to be carbon neutral by 2045.

    “The Paris Agreement sets a goal for the world to be carbon neutral from 2050, so California’s goal to achieve this five years early is ambitious – and exactly what this week is intended to inspire,” says Dirk Forrister, IETA’s President and CEO. “California’s cap-and-trade system will have a vital role to play in realising these targets and driving the kind and scale of investments needed to transform the world’s fifth-largest economy into one which is low-carbon and fit for the future.

    “Well-designed carbon markets are key to any ambitious climate change response,” Forrister adds. “The world hosts a myriad of emissions trading systems, which are already reducing pollution and driving innovations – it is essential that governments move quickly to finalise the rules for the Paris Agreement so that these efforts are counted towards our shared goals, and to unleash the full potential of carbon markets.”

    “Business wants predictability and clarity on policy, so that crucial investment decisions can be made without fear of a costly change of direction,” says Katie Sullivan, Managing Director at IETA. “Well-designed markets enable the low-carbon transition to be made at a steady pace, without shocks to business and consumers.”

    “Today’s event highlighted how jurisdictions are embracing – or could embrace – smart carbon pricing while driving new clean business and investment opportunities and remaining competitive,” she adds. “The future is now.”

  • 03 Sep 2018 4:57 PM | Anonymous member (Administrator)

    Bangkok, 3 September - International climate negotiators gather this week in Bangkok for the second part of the 48th meeting of Subsidiaries Bodies to the UNFCCC (SB48-2), with the objective of advancing work on the Paris Agreement "rulebook". The outcome of the talks, which is due to be adopted at COP24, will be a set of rules and implementing details needed to bring the Paris Agreement to life, including guidance for market provisions under Article 6.

    Negotiators are mindful that this is the last chance to narrow differences among Parties before COP 24. In the Article 6 discussions, Parties are tasked to produce a draft negotiating text by the end of this week, based on the revised versions of the three informal notes adopted at the first part of SB48 in Bonn in May.

    “It’s time for negotiators to get down to business in Bangkok, since they need to have a negotiating text ready by the start of COP24”  said Stefano De Clara, head of international policy at IETA. “This is the last opportunity to make progress ahead of COP 24, and the business community is hoping to see real momentum created in Bangkok.”

    "We expect the Article 6 talks to keep pace with the other main negotiating tracks - such as transparency, finance, technology and adaptation,” said Dirk Forrister, IETA’s president and CEO. "As much as we want closure on the Article 6 portion of the Paris rulebook, it has to be seen as part of a larger package for Katowice.” 

    IETA will closely follow the discussions on Article 6 of the Paris Agreement, which aim to develop a set of guidelines and rules for cooperative approaches to implement nationally determined contributions (Art. 6.2), for a market mechanism to enable emission reductions (Art. 6.4) and for non-market mechanisms (Art. 6.8).

  • 28 Jun 2018 10:52 PM | Anonymous member (Administrator)

    London, 28 June - IETA welcomes the ICAO Council's adoption this week of monitoring, reporting and verification rules for its CORSIA global offsetting system.

    CORSIA, or the Carbon Offsetting and Reduction Scheme for International Aviation, is the first global sectoral emissions reduction system. Airlines will be required to calculate annually the emissions from their flights and buy carbon offsets equivalent to any increase over a baseline of 2019-2020 average emissions.

    The Standards and Recommended Practices (SARPs) adopted this week lay out the technical guidance on how airlines should monitor, verify and report their fleets’ carbon emissions.

    “IETA broadly welcomes the timely adoption of the SARPs,” says Sophy Greenhalgh, IETA Director. “Entities can now get going with the critical element of developing the sectoral baseline for calculating emissions going forward.”

    However, ICAO has yet to establish rules on which offset standards will be approved for use in CORSIA.

    “We are now awaiting news on the set-up of the process and governance for approving offset programmes and what further limitations and restrictions will apply with regards to vintage timeframes and project types,” Greenhalgh says.

    “Significant work in a short timeframe is now required to develop further details around emission unit eligibility, to give the carbon market and investors time to ensure a highly environmentally robust supply pipeline is available for CORSIA.”

    IETA calls for carbon market experts to add their input before those decisions are taken.

    “We welcome further opportunities for consultations on program design details,” Greenhalgh says. “We urge that ICAO make clear how it intends to intensify its process so that it can progress work before the next Council meeting in November on emissions unit criteria and other operational elements of CORSIA.”

    "It is essential to establish the quality specifications and approval processes as soon as possible for the market to deliver offsets that meet CORSIA’s environmental objectives.”

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